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Emmanuel Macron

Climate love

France, US to propose ban on private finance to coal-fired plants at COP28

France, backed by the United States, plans to seek a halt to private financing for coal-based power plants during the U.N. climate conference that will convene from 30 November to 12 December 2023 in Dubai, United Arab Emirates (UAE). The plan has been communicated toIndia and China who has been seen opposed to any attempt to block construction of coal-fired power stations for their energy-hungry economies. France's minister of state for development Chrysoula Zacharopoulou told the Indian government about the plan, called the "New Coal Exclusion Policy", for private financial institutions and insurance companies, two Indian officials said. An attempt by Reuters to seek for a response from India's environment, power and renewable energy, coal, external affairs and information ministries, the OECD and the French embassy in New Delhi they was deemed futile. A source in Europe familiar with the plan said the aim was to dry up private funding for coal power and that it was a top priority for French President Emmanuel Macron during COP28, seen as a crucial opportunity to accelerate action to limit global warming. Read more: https://www.reuters.com/sustainability/sustainable-finance-reporting/france-us-propose-ban-private-finance-coal-fired-plants-cop28-sources-2023-11-21/

Do you agree?

43 more agrees trigger social media ads

  • Rashid Kamau

    21 w

    Private finance should highly be condemned especially when the support is based to anything affecting the climate.

    2
    • Saustine Lusanzu

      24 w

      Good example

      3
      • Esther Wanjiku

        29 w

        These are remarkable plans

        7
      • Kevin

        29 w

        These are great recommendations by the two nations

        7
        • Joseph Githinji

          29 w

          @Kevin they are good for the environment

          5
        • Elizabeth Gathigia

          29 w

          France and US are leading a good example, other nations should support these banning too

          9
        • johnte ndeto

          29 w

          When such developed countries come together for the good of climate change it's really encouraging

          13
          • Princess

            29 w

            @johnte_ndeto Indeed, collaborative efforts among developed countries to address climate change are inspiring.

            5
          • Princess

            29 w

            This move aligns with the growing consensus to address climate change and encourages a shift towards cleaner energy sources.

            13
            • Rukia Ahmed Abdi

              29 w

              France and the United States are jointly proposing a significant move at COP28 by seeking a ban on private financing for coal-fired power plants. This initiative, named the "New Coal Exclusion Policy," aims to restrict financial support from private institutions and insurance companies for such projects. The plan has been shared with India and China, nations with energy-intensive economies that have previously opposed restrictions on coal-fired power stations. The move reflects a commitment to limit global warming and aligns with the priorities of French President Emmanuel Macron during COP28. The proposal underscores the global effort to combat climate change by targeting financial avenues supporting coal power.

              8
              • Princess

                29 w

                @rukia_ahmed_abdi Global cooperation is essential to effectively tackle the challenges of climate change and create a more sustainable future.

                5
              Welcome, let's solve the climate crisis together
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